Diel patterns of leaf and root growth: endogenous rhythmicity or environmental response?

Plants are sessile organisms forced to adjust to their surrounding environment. In a single plant the photoautotrophic shoot is exposed to pronounced environmental variations recurring in a day-night 24 h (diel) cycle, whereas the heterotrophic root grows in a temporally less fluctuating environment. The contrasting habitats of shoots and roots are reflected in different diel growth patterns and their responsiveness to environmental stimuli. Differences between diel leaf growth patterns of mono- and dicotyledonous plants correspond to their different organization and placement of growth zones. In monocots, heterotrophic growth zones are organized linearly and protected from the environment by sheaths of older leaves. In contrast, photosynthetically active growth zones of dicot leaves are exposed directly to the environment and show characteristic, species-specific diel growth patterns. It is hypothesized that the different exposure to environmental constraints and simultaneously the sink/source status of the growing organs may have induced distinct endogenous control of diel growth patterns in roots and leaves of monocot and dicot plants. Confronted by strong temporal fluctuations in environment, the circadian clock may facilitate robust intrinsic control of leaf growth in dicot plant

Dissecting Long-Term Adjustments of Photoprotective and Photo-Oxidative Stress Acclimation Occurring in Dynamic Light Environments

Changes in light intensity directly affect the performance of the photosynthetic apparatus. Light energy absorbed in excess of cells’ needs leads to production of reactive oxygen species and photo-oxidative damage. Excess light in both constant and dynamic environments induces photoprotective acclimation in plants. Distinct sets of signals and regulatory mechanisms are involved in acclimatory adjustment of photoprotection and photosynthesis under constant and dynamic (fluctuating) light conditions. We are still far away from drawing a comprehensive picture of acclimatory signal transduction pathways, particularly in dynamic environments. In this perspective article, we propose the use of Arabidopsis plants that produce H2O2 in chloroplasts (GO plants) under atmospheric CO2 levels as a tool to study the mechanisms of long-term acclimation to photo-oxidative stress. In our opinion there are new avenues to future investigations on acclimatory adjustments and signal transduction occurring in plants under dynamic light environments

An overreaction implementation of the coherent market hypothesis and option pricing

Inspired by the theory of social imitation (Weidlich 1970) and its adaptation to financial markets by the Coherent Market Hypothesis (Vaga 1990), we present a behavioral model of stock prices that supports the overreaction hypothesis. Using our dynamic stock price model, we develop a two factor general equilibrium model for pricing derivative securities. The two factors of our model are the stock price and a market polarization variable which determines the level of overreaction. We consider three kinds of market scenarios: Risk-neutral investors, representative Bernoulli investors and myopic Bernoulli investors. In case of the latter two, risk premia provide that herding as well as contrarian investor behaviour may be rationally explained and justified in equilibrium. Applying Monte Carlo methods, we examine the pricing of European call options. We show that option prices depend significantly on the level of overreaction, regardless of prevailing risk preferences: Downward overreaction leads to high option prices and upward overreaction results in low option prices